A museum spokesperson told The Hollywood Reporter Thursday morning that it was a combination of jet lag, a cold and the excitement of the evening that caused the 88-year-old co-chairman to faint. Spacey joked that Schlosser fainted because he "was so excited that I was the honoree tonight."

"I had a very nice conversation with him while he was lying on his back," Spacey added.

In all seriousness, Spacey thanked Schlosser for all he's done for the museum and wished him his best.

"I just wanted to send out our thanks for, first of all, all that he's done for the museum in the 23 years that he's been with the [institution]," the actor said. "I'm glad he's doing all right. Just send him my best and thank him very much."

Schlosser was supposed to speak during the event but was absent from the stage before the honoree told the crowd what happened. The museum told THR Thursday that Schlosser wanted to go up on stage to make his remarks, but his family thought he should rest.

Schlosser's fainting was just one of many noteworthy moments from Wednesday night's gala, the 28th annual tribute to a Hollywood star.